Occudo Quantitative Strategies LP Takes $313,000 Position in nVent Electric plc (NYSE:NVT)

Occudo Quantitative Strategies LP acquired a new stake in nVent Electric plc (NYSE:NVT - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 4,586 shares of the company's stock, valued at approximately $313,000.

A number of other institutional investors have also modified their holdings of the company. Needham Investment Management LLC raised its stake in shares of nVent Electric by 4.9% during the fourth quarter. Needham Investment Management LLC now owns 160,000 shares of the company's stock valued at $10,906,000 after purchasing an additional 7,500 shares during the period. Millennium Management LLC lifted its holdings in nVent Electric by 743.7% in the 4th quarter. Millennium Management LLC now owns 2,215,624 shares of the company's stock worth $151,017,000 after buying an additional 1,953,026 shares in the last quarter. Moore Capital Management LP acquired a new position in nVent Electric in the 4th quarter worth $8,065,000. Lighthouse Investment Partners LLC boosted its position in nVent Electric by 6.6% in the 4th quarter. Lighthouse Investment Partners LLC now owns 39,425 shares of the company's stock valued at $2,687,000 after buying an additional 2,425 shares during the last quarter. Finally, Interval Partners LP boosted its position in nVent Electric by 7.0% in the 4th quarter. Interval Partners LP now owns 716,672 shares of the company's stock valued at $48,848,000 after buying an additional 46,918 shares during the last quarter. Hedge funds and other institutional investors own 90.05% of the company's stock.

nVent Electric Stock Performance

Shares of NYSE:NVT traded up $0.92 on Thursday, hitting $64.94. The company's stock had a trading volume of 321,024 shares, compared to its average volume of 1,932,688. The company has a market capitalization of $10.69 billion, a price-to-earnings ratio of 33.14, a price-to-earnings-growth ratio of 1.48 and a beta of 1.24. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.28 and a current ratio of 1.73. nVent Electric plc has a 12 month low of $41.71 and a 12 month high of $86.57. The stock's 50-day moving average is $55.70 and its two-hundred day moving average is $64.56.

nVent Electric (NYSE:NVT - Get Free Report) last posted its quarterly earnings data on Friday, May 2nd. The company reported $0.67 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.66 by $0.01. nVent Electric had a net margin of 10.09% and a return on equity of 14.52%. The business had revenue of $809.30 million during the quarter, compared to analysts' expectations of $790.74 million. During the same period last year, the firm posted $0.78 earnings per share. The business's revenue was up 10.5% on a year-over-year basis. On average, equities research analysts forecast that nVent Electric plc will post 3.04 EPS for the current year.

nVent Electric Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 1st. Stockholders of record on Friday, July 18th will be paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.23%. The ex-dividend date is Friday, July 18th. nVent Electric's dividend payout ratio is presently 22.86%.

Insider Activity

In other nVent Electric news, EVP Lynnette R. Heath sold 4,041 shares of the business's stock in a transaction dated Thursday, May 8th. The shares were sold at an average price of $61.35, for a total value of $247,915.35. Following the sale, the executive vice president now directly owns 32,665 shares in the company, valued at approximately $2,003,997.75. The trade was a 11.01% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 1.80% of the company's stock.

Wall Street Analysts Forecast Growth

NVT has been the subject of a number of analyst reports. Barclays increased their price target on nVent Electric from $65.00 to $70.00 and gave the company an "overweight" rating in a report on Monday, May 5th. KeyCorp increased their target price on nVent Electric from $60.00 to $72.00 and gave the company an "overweight" rating in a research note on Monday, May 5th. Citigroup decreased their price target on shares of nVent Electric from $85.00 to $59.00 and set a "buy" rating for the company in a research report on Monday, April 14th. The Goldman Sachs Group cut their price target on shares of nVent Electric from $86.00 to $74.00 and set a "buy" rating on the stock in a report on Wednesday, April 2nd. Finally, CL King raised shares of nVent Electric from a "neutral" rating to a "buy" rating and set a $70.00 price objective for the company in a report on Monday, March 17th. Six investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, nVent Electric presently has an average rating of "Buy" and an average price target of $70.00.

nVent Electric Profile

nVent Electric plc, together with its subsidiaries, designs, manufactures, markets, installs, and services electrical connection and protection solutions in North America, Europe, the Middle East, Africa, the Asia Pacific, and internationally. The company operates through three segments: Enclosures, Electrical & Fastening Solutions, and Thermal Management.